Atlanta-based Prudential Georgia Realty has joined a real estate network majority owned by billionaire Warren Buffett’s Berkshire Hathaway investment company and is now operating under a new name, Berkshire Hathaway HomeServices Georgia Properties.
Berkshire Hathaway HomeServices Georgia Properties will operate as an independent subsidiary of and will pay royalties to Berkshire Hathaway HomeServices in exchange for technology improvements, digital resources, marketing and other real estate support services, according to spokesman Kevin Ostler. Financial terms were not disclosed.
The Atlanta company has 1,100 associates and 22 offices across the greater metro area. It now belongs to a network that includes former Prudential operations in 14 other states.
Berkshire Hathaway HomeServices was created in 2012 as a new real estate brand majority owned by HomeServices of America Inc., an affiliate of Berkshire Hathaway, and Brookfield Asset Management, which acquired Prudential Real Estate in 2011.
Berkshire Hathaway HomeServices has been gradually adding more former Prudential operations to the network. The network is operated by HSF Affiliates LLC, another company majority owned by HomeServices of America.